Trade Me Completes Buyout of Homes.co.nz

September 1, 2021
Share this Post: 

Leading Kiwi classifieds operator Trade Me has today completed its acquisition of property vertical Homes.co.nz after clearing competition hurdles in the country.

Back in February local media reported that Kiwi classifieds giant Trade Me was looking to acquire real estate portal Homes.co.nz for an undisclosed sum and that the deal would have to run the gauntlet of competition scrutiny. Today, however, Trade Me CEO Anders Skoe took to Linkedin to announce that the deal has been completed and that Homes.co.nz is now part of Trade Me.

Founded in 2014 by current CEO Jamie Kruger Homes.co.nz started out as a data service company but over recent years has developed into a powerful alternative listing site to the two big players Realestate.co.nz and Trade Me’s real estate branch. The company employs some 24 people according to Linkedin and until recently was part-owned by telecoms company Spark which upped its stake in the firm in 2018.

The deal will strengthen the customer offering in a key vertical for Trade Me which operates a generalist classifieds business as well as several vertical offerings including real estate and jobs both of which it has specialist mobile apps for. With generalist goods businesses notoriously difficult to make profitable, the acquisition and its clearance by New Zealand's competition authorities is a real boost for Trade Me and consolidates a market with several strong players.

September 1, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Rightmove Opt 1
Rightmove Appoints Former Just Eat MD, Matthew Bushby as Its New CMO

British market leader Rightmove has announced the appointment of Matthew Bushby as its new Chief Marketing Officer. Bushby joins the...

Read More
Shutterstock 603344765
Casai Merges with Fellow LatAm Short Term Rentals Specialist Nomah After Job Losses

The Mexican short-term rentals marketplace operator Casai has merged with its Brazilian counterpart Nomah. Existing investors including a16z and Monashees...

Read More
Shutterstock 147091049
REA India Sidesteps Agents with Country's First User Subscription Service - 'Housing Premium'

The REA India-owned real estate portal Housing.com has announced the launch of a new user subscription service that aims to...

Read More
Boligportal
North Media Posts Q2 Financial Results—BoligPortal on Track

North Media, the media group and operator of Danish Portal BoligPortal, released its Q2 2022 financial report, with results "as...

Read More

Editor's Pick